Updates

  1. Person pages list letters, writing, profiles and links as sortable tables with filters, and show each person's companies as links; Fund letters show each letter's description in its own column.
  2. Experts show a checked job title and a short description of each person; 30 more people have photographs.
  3. Every company, fund, university and publication the experts work for has a page listing the people there.
  4. Fund letters show each letter's thesis and filter by it; 225 person pages list the essays, columns and newsletter issues the person wrote.
  5. Person pages list every essay and newsletter issue a person wrote, and their own books as a table in List view.
  6. Recommends shows the five largest kinds of book and the rest under More; browse pictures load sooner.
  7. Podcasts and talks link the original episode, filter by Audio and video or Press, and list each publisher once.
  8. Pages are wider, Recommends has List and Grid, and a filter clicked again turns off.
  9. Book cards sit in a ruled grid with Open Library and Goodreads links and each book's one-line note.
  10. Funds is now Investors; each investor's styles are buttons that filter the table.
  11. Podcasts and talks on a person's page filter by year and publisher and show as a list or a grid of pictures.
  12. Quotes show only people's own words: 472 summaries written by list sites are gone.
  13. Country pages open from Browse again, and every link on the shelf lands on a page.
  14. Subject and person pages show their sections as tabs, and each book appears once on a person's page.
  15. Book cards show the quote, who said it and the source; grids show five cards to a row.
  16. On a phone, a menu holds the sections, search, Updates, Feedback and dark mode.
  17. Feedback takes a screenshot of the page with no browser prompt, opens a screenshot full size when you click it, and clears itself once sent.
  18. Book cards are centred, search names the topic each book sits in, and any text cut short shows whole on hover.
  19. Search groups its results by kind: people, companies, geographies, subjects, topics, books, funds, fund letters and papers.
  20. The Books table lists who recommended each book by name, and the browser tab names the section you are in.
  21. Feedback can take a screenshot of the page, or one you paste or choose, and opens in the corner beside Updates.
  22. Each rail button reopens its section where you left it, and Browse, Table and People show on every book and subject page.
  23. Filters grey out choices that hold nothing instead of hiding them, and Books › People filters by authors or recommenders.
  24. Feedback takes a subject line and up to three screenshots.
  25. Biographies are grouped by the person they are about: 41 new pages, from Abraham Lincoln to Lee Kuan Yew.
  26. Sport splits into 23 sports, and Religion into one topic per faith.
  27. Book lists show as cards: the cover, one recommendation quote and every recommender by name.
  28. Seventeen subjects that had two or three pages under different names now have one page each.
  29. Every page lists its Experts as authors and recommenders, with a link to them on the Experts tab.
  30. Economics, Financial history, Financial panics and Accounting are subjects of their own, with one page per financial crisis.
  31. Book, person and subject pages open inside the app, so the tabs stay in view.
  32. 996 more book covers, and photographs or logos for 227 more people and companies.
  33. Books › Browse shows every subject as cards, and the rail holds Fund letters, Papers, Experts, Books and Funds.
  34. Every topic over 150 books splits into narrower topics, each with a page of its own.

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FS

Financial statement analysis

Accounting

Reading a company's accounts to judge its earnings, assets and value, from Graham and Dodd to Penman and Buffett's essays.

Books 14Experts 8Recommenders 19
Security AnalysisSecurity Analysis
T1 Security Analysis
Benjamin Graham, David Dodd · 1934
Open LibraryGoodreads

How to read financial statements sceptically and value bonds and stocks.

“I've spent more time with all of the editions of Benjamin Graham and David Dodd's Security Analysis than with any other book” — Christopher Bloomstran

Source: Semper Augustus 2024 Letter to Clients, 'Books and Tunes for Walking', p. 95

Recommended by: Christopher Bloomstran, Howard Marks and 11 others

The Interpretation of Financial StatementsThe Interpretation of Financial Statements
T1 The Interpretation of Financial Statements
Benjamin Graham, Spencer B. Meredith · 1937
Open LibraryGoodreads

A short line-by-line primer on the balance sheet, income account and key ratios.

Recommended by: Mohnish Pabrai

The Essays of Warren BuffettThe Essays of Warren Buffett
T1 The Essays of Warren Buffett
Lawrence A. Cunningham, Warren E. Buffett · 1997
Open LibraryGoodreads

Berkshire's shareholder letters arranged by topic: governance, valuation, mergers.

“The resource is as valuable as Larry Cunningham's The Essays of Warren Buffett, which similarly organizes by subject matter” — Christopher Bloomstran

Source: Semper Augustus 2024 Letter to Clients, 'Books and Tunes for Walking', p. 96

Recommended by: Christopher Bloomstran, Francois Rochon and 11 others

Financial Statement Analysis and Security VaFinancial Statement Analysis and Security Valuation
T2 Financial Statement Analysis and Security Valuation
Stephen H. Penman · 2001
Open LibraryGoodreads

How to use financial statements to value a business, from concept to practice.

Why Stocks Go Up and DownWhy Stocks Go Up and Down
T3 Why Stocks Go Up and Down
William H. Pike · 1983
Open LibraryGoodreads

Plain-language primer on financial statements and how securities work

“I highly recommend Janet Lowe's Value Investing Made Easy as a primer. I'd follow that book with Why Stocks Go Up (and Down) by William Pike.” — Michael Burry

Source: Silicon Investor 'Value Investing' thread, msg 1569363 (June 10, 1997) — archived

Recommended by: Michael Burry

Sense and Nonsense in Corporate FinanceSense and Nonsense in Corporate Finance
T3 Sense and Nonsense in Corporate Finance
Louis Lowenstein · 1991
Open LibraryGoodreads

Sceptical look at corporate finance orthodoxy and reported earnings

“When you think you've got it all figured out, try Sense and Nonsense in Corporate Finance.” — Michael Burry

Source: Silicon Investor 'Value Investing' thread, msg 1569363 (June 10, 1997) — archived

Recommended by: Michael Burry

The Five Rules for Successful Stock InvestinThe Five Rules for Successful Stock Investing
T3 The Five Rules for Successful Stock Investing
Pat Dorsey · 2003
Open LibraryGoodreads

Morningstar primer on analysing businesses sector by sector.

A Modern Approach to Graham and Dodd InvestiA Modern Approach to Graham and Dodd Investing
T3 A Modern Approach to Graham and Dodd Investing
Thomas P. Au · 2004
Open LibraryGoodreads

Updates Graham and Dodd's valuation method for modern financial statements

Recommended by: Mohnish Pabrai

Quantitative Value
T3 Quantitative Value
Wesley Gray, Tobias Carlisle · 2012
Open LibraryGoodreads

Gray and Carlisle test value screens with quantitative evidence.

Analysis of Financial StatementsAnalysis of Financial Statements
T4 Analysis of Financial Statements
Leopold A. Bernstein, John J. Wild · 1999
Open LibraryGoodreads

Recommended by: Mohnish Pabrai

Financial Fine Print: Uncovering a Company'sFinancial Fine Print: Uncovering a Company's True Value
T4 Financial Fine Print: Uncovering a Company's True Value
Michelle Leder · 2003
Open LibraryGoodreads

Recommended by: Mohnish Pabrai

Modern Security Analysis: Understanding Wall
T4 Modern Security Analysis: Understanding Wall Street Fundamentals
Martin J. Whitman · 2013
Open LibraryGoodreads

Security analysis that weighs the balance sheet over reported earnings.

Recommended by: Mohnish Pabrai

Investing Between the LinesInvesting Between the Lines
T4 Investing Between the Lines
L.J. Rittenhouse · 2012
Open LibraryGoodreads

Recommended by: Mohnish Pabrai, Warren Buffett

It's Earnings That Count
T4 It's Earnings That Count
Hewitt Heiserman
Goodreads

Recommended by: Patrick O'Shaughnessy

More accounting

← Earnings quality and accounting tricksManagement Accounting and Unit Economics →All accounting